Credit Acceptance (NASDAQ:CACC) Posts Earnings Results, Beats Expectations By $2.47 EPS

Credit Acceptance (NASDAQ:CACC) issued its quarterly earnings data on Tuesday. The credit services provider reported $9.28 EPS for the quarter, topping analysts’ consensus estimates of $6.81 by $2.47, Yahoo Finance reports. Credit Acceptance had a net margin of 12.83% and a return on equity of 30.34%. The business had revenue of $508.00 million for the quarter, compared to analyst estimates of $497.71 million. During the same period last year, the business posted $9.71 earnings per share. The firm’s quarterly revenue was up 11.9% on a year-over-year basis.

Credit Acceptance Stock Down 4.1 %

Shares of CACC stock opened at $492.58 on Thursday. The company has a current ratio of 15.71, a quick ratio of 15.71 and a debt-to-equity ratio of 2.84. Credit Acceptance has a 1 year low of $379.77 and a 1 year high of $616.66. The firm’s fifty day moving average price is $544.58 and its two-hundred day moving average price is $509.70. The firm has a market capitalization of $6.06 billion, a P/E ratio of 25.27 and a beta of 1.44.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Credit Acceptance from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $381.75.

Insider Buying and Selling at Credit Acceptance

In other Credit Acceptance news, insider Douglas W. Busk sold 2,500 shares of Credit Acceptance stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $572.58, for a total value of $1,431,450.00. Following the sale, the insider now directly owns 3,112 shares in the company, valued at approximately $1,781,868.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Credit Acceptance news, insider Douglas W. Busk sold 2,500 shares of Credit Acceptance stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $572.58, for a total value of $1,431,450.00. Following the sale, the insider now directly owns 3,112 shares in the company, valued at approximately $1,781,868.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas W. Busk sold 500 shares of Credit Acceptance stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $579.98, for a total transaction of $289,990.00. Following the completion of the sale, the insider now owns 3,112 shares in the company, valued at $1,804,897.76. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

About Credit Acceptance

Credit Acceptance Corporation engages in the provision of financing programs, and related products and services in the United States. The company advances money to automobile dealers in exchange for the right to service the underlying consumer loans; and buys the consumer loans from the dealers and keeps the amount collected from the consumers.